http://blogs.moneycentral.msn.com/topstocks/archive/2009/10/20/citibank-yanks-mastercards.aspx

Never knew these banks had so much class.

Why do you hate Capitalists, Pinko?

I see where some credit card companies are about to start charging a fee for paying on time.
Gotta love it.

With all the new credit card regulations, the Credit card companies wont be able to take advantage of the poor people so they will have to take it out on the rich...

I'm of two minds here -- first, if you don't like their product, don't use it. There are *plenty* of good alternatives...

But on the other hand, I feel like at times these things are predatory -- not so much on the cancelling cards out of hand, but more on the "change interest rates underlying existing customers" thing.

In the end, I think credit cards are an awesome tool that are frequently/typically mis-understood by the average consumer, so they amount to yet another poor/stupid tax. Add Lotto, payday-loans, and most internet scams to that as well.

Now the 'conservatives' start thinking that gov't regulation might be a good thing?

Credit has had a 40 year run as the slimiest gig on the planet. Didn't think it possible to sink to a new low.

I use two credit cards, strictly for convenience, and pay them off each month. They make a % on every transaction, so if they're hurting, it must be due to a poor business plan.

If there are any "good" card issuers out there, it would be nice to know who they are. I very much support the notion of voting with my wallet to let vendors know I appreciate how they do business.

Sg

Bank of America is the Devil. Worked there for 10 years.

BOA sucks. Their favourite trick is to give you a positive balance then nail you for over-draught fees. Unfortunately for me, I'm limited to banks that do business in both WA and CA. Good luck finding a UBoC branch around here. There's no way in hell I'll deal with Wells Fargo.

Thanks Aunty. Actually I do have a credit union Visa, but I don't use it because I use my CU debit card that is also Visa, and I get them mixed up if I try to use both. Now I remember why I got one through REI.

Sg

As recently as ten years ago, hardly anyone
knew that the US Federal Reserve is a privately
owned institution.

Now, millions know - even some comedians.
(But apparently not the ones who have their
own shows.)

Video:



http://www.brasschecktv.com/page/714.html

Dont be surprised to see Citi go under by this time next year, if only BofA would follow but they are TBTF. Stay with the local banks and credit unions although I know of a number of locals that are close to getting shut down so pick em wisely.

A number of credit unions are in big trouble as well, so they have not been insulated from this financial crisis. BECU is succking wind, as is Twin Star, and a few others.

Check out your credit union on the website below. You need to know where their headquarters is, and these are only CU's headquartered in WA. Just because they have lost money doesn't mean they'll fail. Look at their capital as a percentage of total assets. If they are below 10% capital to assets, they are in trouble. CU's, like some mutuals, don't sell stock, and therefore have limited means to raise additional capital. You may hear about more and more CU's going away.

Washington CU's